axanthics

BTC Confirmation in Breakout.

BITFINEX:BTCUSD   Bitcoin
I see the breakout to the upside today representing what may be a fundamental shift to the accumulation phase and break in structure if BTC closes at a higher high. Bears haven't been able to break $6K since August 2018. The lower part of the wedge extends back to March 2017. RSI currently has a little more room to go. Although I'd love to see a close above resistance of $7400, I'll take a close today above $6800 to signal a break of the current bearish structure signaled by very low volume, lower highs, and just notable higher lows. In reference to the break in structure, one can also be seen in August 2015 within the last bull cycle (peak to peak from March 2013 to December 2017).
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